[Analysis] "Bitcoin's current correction unlikely to spread into a large-scale sell-off"

Despite Bitcoin (BTC) and the crypto assets (cryptocurrencies) market recently widening their losses, a diagnosis has emerged that this correction is unlikely to spread into a large-scale sell-off.

On the 23rd, according to crypto asset media Cointelegraph, macroeconomic analyst Lyn Alden said on the recent podcast 'What Bitcoin Did' that "this cycle has not yet reached euphoric levels" and "there is little basis for the current correction to suddenly lead to 'capitulation'". Alden explained that "the current cycle is a flow driven by a broader macro environment and demand for the asset itself rather than the halving."

Alden also emphasized caution regarding extreme forecasts. Alden said, "Markets are usually neither as good nor as bad as investors imagine," adding, "Judgments that assume extreme upside or downside are not appropriate."

Recently, Bitcoin has corrected more than 22% over 30 days.

Alden pointed out that "investors often expect a bull market to 'of course come'," and "no one is guaranteed a bull market." Alden expected that Bitcoin is likely to recover $100,000 by year-end and that there is a high possibility it will attempt a new high this year or next year.